PR Newswire
VANCOUVER, Oct. 2, 2012
VANCOUVER, Oct. 2, 2012 /PRNewswire/ - Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSXV: ATL; NYSE MKT: ATL; JSE: ATL) refers shareholders to the Company's news release dated September 27, 2012 and announces that the transactions pursuant to the interim implementation agreement (the "first phase agreement") with Anglo American Platinum Limited have been closed and implemented.
This series of transactions comprises the first phase of the Company's restructuring, recapitalization and refinancing plan (the "Restructure Plan"), its wholly owned subsidiary, Plateau Resources Pty Ltd, as well as the Bokoni group of companies.
The second phase of the Restructure Plan remains subject to finalization of definitive agreements with respect to such transactions, as well as obtaining the necessary shareholder and regulatory approvals, including from the Department of Mineral Resources, South Africa, applicable stock exchanges and other regulatory bodies.
Shareholders are reminded that the Company remains under cautionary until the definitive agreements relating to the second phase of the Restructure Plan have been executed and its financial effects have been finalized. The financial effects of the first phase agreement are being finalized and will be announced in due course.
For further information regarding the first phase agreement, which constitutes a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions, shareholders are referred to the material change report dated September 27, 2012 and available on SEDAR at www.sedar.com.
Cautionary and forward-looking information
This news release contains "forward-looking statements" that are based on management's expectations, estimates and projections as of the current date, including statements relating to the Bokoni group Restructure Plan and anticipated financial or operational performance. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions.
Atlatsa believes that such forward-looking statements are based on material factors and reasonable assumptions, including the following assumptions: the second phase of the Restructure Plan will be implemented on the terms favourable to the Company and on a timely basis, Bokoni Mine will achieve targeted production levels; the Company's exploration project results will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available as scheduled and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:
For further information on Atlatsa, investors should review the Company's Annual Report disclosed in the Form 20-F for the year ended December 31, 2011 filed on SEDAR at www.sedar.com and with the United States Securities and Exchange Commission www.sec.gov and other disclosure documents that are available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The NYSE MKT LLC has neither approved nor disapproved the contents of this press release.
SOURCE Atlatsa Resources Corporation
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